IFP Advisors Inc lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 363,009 shares of the iPhone maker’s stock after acquiring an additional 17,491 shares during the quarter. Apple accounts for 2.2% of IFP Advisors Inc’s portfolio, making the stock its largest holding. IFP Advisors Inc’s holdings in Apple were worth $52,281,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Princeton Capital Management Inc. boosted its stake in shares of Apple by 0.8% during the 2nd quarter. Princeton Capital Management Inc. now owns 40,212 shares of the iPhone maker’s stock worth $5,791,000 after acquiring an additional 323 shares in the last quarter. JLB & Associates Inc. purchased a new stake in shares of Apple in the second quarter valued at $12,251,000. Lucas Capital Management lifted its holdings in shares of Apple by 5.0% in the second quarter. Lucas Capital Management now owns 42,185 shares of the iPhone maker’s stock valued at $6,075,000 after purchasing an additional 2,001 shares in the last quarter. Capital Investment Advisory Services LLC lifted its holdings in shares of Apple by 0.5% in the second quarter. Capital Investment Advisory Services LLC now owns 14,062 shares of the iPhone maker’s stock valued at $2,025,000 after purchasing an additional 71 shares in the last quarter. Finally, Eagle Ridge Investment Management lifted its holdings in shares of Apple by 3.8% in the second quarter. Eagle Ridge Investment Management now owns 63,319 shares of the iPhone maker’s stock valued at $8,572,000 after purchasing an additional 2,303 shares in the last quarter. 60.38% of the stock is owned by institutional investors and hedge funds.
In related news, insider Angela J. Ahrendts sold 63,388 shares of Apple stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $154.21, for a total transaction of $9,775,063.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Johny Srouji sold 5,892 shares of Apple stock in a transaction on Monday, August 28th. The stock was sold at an average price of $161.00, for a total transaction of $948,612.00. Following the transaction, the insider now directly owns 70,358 shares of the company’s stock, valued at approximately $11,327,638. The disclosure for this sale can be found here. Insiders have sold 394,711 shares of company stock valued at $62,660,786 in the last three months. 0.08% of the stock is owned by insiders.
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Apple Inc. (NASDAQ:AAPL) opened at $171.34 on Wednesday. Apple Inc. has a 52 week low of $106.16 and a 52 week high of $176.24. The firm has a market cap of $893,216.25, a price-to-earnings ratio of 18.91, a P/E/G ratio of 1.40 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28.
Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The business had revenue of $52.58 billion during the quarter, compared to the consensus estimate of $50.71 billion. During the same quarter last year, the firm earned $1.50 earnings per share. Apple’s quarterly revenue was up 12.2% on a year-over-year basis. analysts expect that Apple Inc. will post 11.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, November 13th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Friday, November 10th. Apple’s dividend payout ratio is presently 27.39%.
A number of analysts have recently issued reports on AAPL shares. Needham & Company LLC restated a “buy” rating and issued a $175.00 target price (up previously from $165.00) on shares of Apple in a report on Wednesday, August 2nd. They noted that the move was a valuation call. Cleveland Research upgraded Apple from a “neutral” rating to a “buy” rating and set a $197.00 target price for the company in a report on Tuesday, August 29th. Bank of America Corporation restated a “buy” rating and issued a $180.00 target price (up previously from $175.00) on shares of Apple in a report on Wednesday, August 2nd. UBS AG restated a “buy” rating and issued a $170.00 target price on shares of Apple in a report on Monday, July 31st. Finally, Vetr lowered Apple from a “strong-buy” rating to a “buy” rating and set a $165.66 target price for the company. in a report on Tuesday, July 18th. Six analysts have rated the stock with a hold rating and forty-seven have assigned a buy rating to the stock. Apple currently has a consensus rating of “Buy” and a consensus price target of $199.29.
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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